DJIA and S&P 500 futures are lower by 0.7% and Nasdaq 100 by 1%, setting up the averages to add to yesterday's sharp declines at the open.

Europe's lower by more than 1%, and the Nikkei slid 1.4% overnight.

Treasury yields actually rose during yesterday's tumble - the first time in memory both stock and bond prices fell together - but the 10-year yield is lower by two basis points this morning to 1.91%. Gold is up $10 per ounce to $1,207 and oil by $2 per barrel to $51.20 as the situation in Yemen worsens.

Dow and S&P 500 futures are down 0.3% and Nasdaq 100 0.2% as the FOMC later this morning will begin its two-day meeting, the result of which is expected to show the clearest sign yet of its intention to hike interest rates perhaps as early as June.

Europe's down 1% at midday and Asia posted sharp gains after yesterday's big rally in the West.

The 10-year Treasury yield is lower by two basis points to 2.05%, gold is flat, and oil is lower by $0.90 per barrel to $42.97.

Stock index futures are all higher in the area of 0.4%, with Europe up nearly 1% and Shanghai ahead 2.25% after Beijing promises economic stimulus as necessary.

Oil dipped below $44 per barrel overnight, but has since recovered to $44.50, off marginally on the session. Gold is up $4 per ounce to $1,156, and the 10-year Treasury yield is down two basis points to 2.10%.

The economy is expected to have added 240K jobs in February vs. 257K in January, with the unemployment rate ticking back down to 5.6%. Average hourly earnings are expected to fall back to a 0.2% gain from January's outsized 0.5%.

Europe's little-changed and the Nikkei climbed 1.2% overnight.

The 10-year Treasury yield is unchanged at 2.12% as is gold as $1,195. Oil is up $0.18 per barrel to $50.93.

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